How Important is a Mentorship when starting out?

[Richard Darnell]

Hi everyone!

I've been immersed in studying real estate investing, particularly wholesaling, but also fix and flip, and buy and hold strategies for the past six months and I'm dedicated to making this a successful venture. However, lately, I've been wondering the importance of having a mentor in this journey and wondering if I’m missing out on some serious growth without one. 

My current career is a travel nurse but I‘ve taken time off to work full time in the real estate investing world and I would greatly appreciate your insights and experiences on this matter. 

While I've been diligently educating myself through books (Rich Dad Poor Dad, The Richest Man in Babylon, multiple books on flipping houses by J. Scott, Mobile Home Flipping, and many more), YouTube resources (like the bigger pockets podcast, both on and off market wholesaling strategies by Jerry Norton, Jamil Damji, and Flip with Rick) , and forums like this one, I can't help but wonder if I'm missing out on the valuable guidance and support that a mentor can provide. I understand that investing in real estate, especially in the beginning stages, can be overwhelming, and having someone who has been through it all could potentially save me from costly mistakes and help me accelerate my progress.

So, I wanted to open up a discussion and ask: How important is mentorship when starting out in acquiring properties? Have any of you found success without a mentor, or do you believe having one is crucial? What specific benefits have you gained from having a mentor, if you had one?

Here are a few points I'm particularly interested in:

1. Practical knowledge and expertise: Did having a mentor provide you with hands-on knowledge and practical tips that you couldn't have learned from books or courses alone?
2. Networking opportunities: Did your mentor help you establish valuable connections within the real estate industry, such as with contractors, agents, or other investors?
3. Accountability and motivation: How did having a mentor keep you accountable and motivated during challenging times? Did they push you to take action and strive for success?
4. Avoiding pitfalls and costly mistakes: Were there instances where your mentor's guidance helped you avoid common pitfalls or costly errors that you might have otherwise made as a beginner?
5. Accelerated learning curve: Did having a mentor help you shorten the learning curve and achieve your goals faster? Did they share valuable strategies, resources, or insights that made a significant impact on your success?

I genuinely believe in the power of mentorship, but I also understand that everyone's journey is unique, and what works for one person may not work for another. I'd love to hear your experiences and opinions, both from those who have had mentors and those who have succeeded without one.

If you have any advice, please feel free to share as well. Your guidance can help me and others who are considering the same path.

Thank you in advance for your input and support!

Best regards, Richard Darnell